Describe the role of a real estate committee.

The role of a real estate committee is primarily focused on establishing and overseeing the policies and practices within a real estate organization or association. This involves setting guidelines that govern the operations of the organization, ensuring compliance with regulations, and fostering best practices in the field. The committee typically consists of experienced professionals who bring their knowledge and expertise to create a framework for the organization's functioning. This is crucial because effective policy oversight helps maintain professional standards, ethical behavior, and strategic direction, which ultimately benefits the organization and its members.

The other options refer to specific tasks or functions that, while important in real estate, do not encompass the broader role of a committee dedicated to governance and guidance within an organization. These tasks, such as deciding on individual property listings, conducting property appraisals, or managing financial records, are more operational and do not reflect the overarching responsibilities of a committee focused on policy formation and oversight.